Getting cheap London hotel rates also depends on the time of travel. The months of June and July are

London is a costly city but with informed choice you can easily find economical hotels. Being one of the most popular tourist destination and important business hub, the hotels in London are generally a little costly but again you can cut the cost by booking well before you arrive. Well, if you are planning to tour this city on an economical budget then you must refrain visiting in the season, try to dither your plan a fortnight before or after the season.
Early booking will help you to have sufficient time to bargain a good deal because you are in no urgency to settle down. You can also get good deals on online hotel booking and many of these sites have the feature where you can bargain London hotel prices. Try to spend sometime online looking for better deal and comparing the deals to know which one is really less or which one promises all luxuries at comparatively lesser price. You can make a choice only when you know about the price variation or discount deals. Source
Getting cheap London hotel rates also depends on the time of travel. The months of June and July are busy period at London hotels and bed and breakfasts. They are the high season months and based on demand and supply principle, London hotel room rates are high during this period because this is the time that a lot of tourists visit London city. The months of January, February and early March are the low season months and hotel room rates are lower.